Paramount Group, Inc. $PGRE Shares Sold by Deutsche Bank AG

Key Points

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Deutsche Bank AG trimmed its holdings in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 5.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 911,811 shares of the financial services provider's stock after selling 49,083 shares during the period. Deutsche Bank AG owned 0.42% of Paramount Group worth $3,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC raised its position in shares of Paramount Group by 806.3% in the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock valued at $29,000 after buying an additional 5,257 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of Paramount Group by 99.2% in the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 4,415 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Paramount Group in the fourth quarter valued at about $52,000. Commerce Bank purchased a new stake in shares of Paramount Group in the fourth quarter valued at about $54,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Paramount Group by 104.8% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 7,481 shares during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PGRE shares. Mizuho upped their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.44.

Paramount Group Stock Down 0.7%

NYSE:PGRE traded down $0.0450 during mid-day trading on Wednesday, hitting $6.6550. The stock had a trading volume of 1,283,804 shares, compared to its average volume of 2,902,254. The stock has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $5.29. The company has a market capitalization of $1.47 billion, a PE ratio of 9.31 and a beta of 1.35. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $6.93. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $177.05 million for the quarter, compared to analysts' expectations of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. On average, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current year.

About Paramount Group

Paramount Group, Inc ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.